Press Release VIVENDI 12 7 2004

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Press Release VIVENDI 12 7 2004 Powered By Docstoc
					                                                    Exhibit 99.1

[VIVENDI UNIVERSAL LOGO]

                                                  Press Release

Paris, December 7th, 2004 - The Corporate Governance Committee and the Human Resources Committee of
Vivendi Universal (Paris Bourse: EX FP; NYSE: V) recommended to the Board of Directors that Chairman
Jean-Rene Fourtou modify the current governance structure of the Company and create a Supervisory Board
and a Management Board, during a plenary session held today. This proposal was formally discussed by the
Board of Directors on December 7, 2004 and will be submitted by a Combined General Meeting of shareholders
on April 28, 2005.

Subject to approval at the Combined General Meeting, the Supervisory Board would be chaired by Jean-Rene
Fourtou and comprised of the Board of Directors' current members.

The Management Board would be chaired by Jean-Bernard Levy and include, Abdeslam Ahizoune (Maroc
Telecom), Jacques Espinasse (Senior Executive Vice-President and Chief Financial Officer of Vivendi Universal),
Frank Esser (SFR-Cegetel Group), Bertrand Meheut (Canal+ Group), Doug Morris (Universal Music Group)
and Rene Penisson (Vivendi Universal Games).

Jean-Francois Dubos, General Counsel would serve as Secretary to both the Supervisory Board and the
Management Board.

Robert de Metz, Executive Vice-President in charge of divestments and acquisitions, would lead the new
Strategy and Development Department.

Important Disclaimer:

This press release contains 'forward-looking statements' as that term is defined in the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results
may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many
of which are outside our control, including but not limited to, the risks that: the proposed changes to Vivendi
Universal's corporate governance structure may not be structured exactly as set forth above; the composition of
the proposed Boards may not be effected exactly as discussed above; as well as the risks described in the
documents Vivendi Universal has filed with the U.S. Securities and Exchange Commission and with the French
Autorite des Marches Financiers. Investors and security holders may obtain a free copy of documents filed by
Vivendi Universal with the U.S. Securities and Exchange Commission at www.sec.gov or directly from Vivendi
Universal. Vivendi Universal does not undertake, nor has any obligation, to provide, update or revise any
forward-looking statements.
Media                    Investor Relations
Paris                    Paris
Antoine Lefort           Daniel Scolan
+33 (0) 1 71 71 11 80    +33 (0) 1 71 71 32 91
Agnes Vetillart          Laurence Daniel
+33 (0) 1 71 71 30 82    +33 (0) 1 71 71 12 33
Alain Delrieu
+33 (0) 1 71 71 10 86

New York                 New York
Flavie Lemarchand-Wood   Eileen McLaughlin
+(212) 572 1118          +(1) 212.572.8961
                                                   Exhibit 99.2

[VIVENDI UNIVERSAL LOGO]

                                                  Press Release

Paris, December 7th, 2004 - Vivendi Universal (Paris Bourse: EX FP; NYSE: V) today received notification of
the decision of the Disciplinary Commission of the Autorite des Marches Financiers (AMF) in connection with
the disciplinary procedure initiated by the Commission des Operations de Bourse (COB) on September 12,
2003 and continued by the AMF.

The Disciplinary Commission dismissed the complaints brought forth by the COB concerning the consolidation
methods used for Cegetel and Maroc Telecom, and acknowledged that the method used in the consolidation of
these two companies was appropriate.

Vivendi Universal disputes the Disciplinary Commission's decision to uphold the complaint challenging the use of
the equity method solely in 2001 rather than full consolidation for Elektrim Telekomunikacja Sp. z o.o., given that
at the time Vivendi Universal did not, and still does not, exercise either exclusive or joint control over this
company.

Vivendi Universal would emphasize that it has attempted to divest this investment several times over the past
three years. These attempts have always been blocked by Elektrim S.A., which of itself demonstrates that
Vivendi Universal does not exercise control over this holding company whose ownership of PTC shares has been
the subject of international arbitration procedures since 1999.

Using the proportional consolidation method, as suggested by the Disciplinary Commission, would have
increased the Vivendi Universal's net debt as of December 31, 2001 by approximately 400 million euros of a
total of 37 billion euros, an increase of about one percent.

The Company also regrets that its submissions concerning its general financial disclosures were not heard, though
its annual reports were reviewed by the COB each year.

Vivendi Universal is conducting a careful assessment of this decision and its options with legal counsel.

Important Disclaimer:

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results
may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many
of which are outside our control, including but not limited to, the risks described in the documents Vivendi
Universal has filed with the U.S. Securities and Exchange Commission and the French Autorite des Marches
Financiers. Investors and security holders may obtain a free copy of documents filed by Vivendi Universal with
the U.S. Securities and Exchange Commission at www.sec.gov or directly from Vivendi Universal. Vivendi
Universal does not undertake, nor has any obligation, to provide, update or revise any forward-looking
statements.
Media                    Investor Relations
Paris                    Paris
Antoine Lefort           Daniel Scolan
+33 (0) 1 71 71 11 80    +33 (0) 1 71 71 32 91
Agnes Vetillart          Laurence Daniel
+33 (0) 1 71 71 30 82    +33 (0) 1 71 71 12 33
Alain Delrieu
+33 (0) 1 71 71 10 86

New York                 New York
Flavie Lemarchand-Wood   Eileen McLaughlin
+(212) 572 1118          +(1) 212.572.8961